I’m an SBI Home loan customer with SBI SURAKSHIT HL A/C.
When I log in to my internet banking, I see Drawing Power, Outstanding Amount and Limit as below.
Limit 30,00,000
Drawing Power 28,90,485
Outstanding Amount 25,41,098
Kindly help me to understand differences between outstanding amount and drawing power. More over today I transferred 2L money from my Saving A/C to Loan A/C. I see only the transferred amount was getting deducted from Outstanding Amount.
When the Drawing power gets reduced? Should I assume that outstanding amount is the remaining amount, I need to pay back to the bank. Please clarify.
Many thanks in advance.